Mackenzie Financial Corp Increases Holdings in Bio-Rad Laboratories, Inc. (NYSE:BIO)

Mackenzie Financial Corp lifted its position in Bio-Rad Laboratories, Inc. (NYSE:BIO) by 47.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,376 shares of the medical research company’s stock after buying an additional 444 shares during the period. Mackenzie Financial Corp’s holdings in Bio-Rad Laboratories were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BIO. ING Groep NV purchased a new position in Bio-Rad Laboratories during the third quarter worth $44,000. Banque Cantonale Vaudoise boosted its stake in shares of Bio-Rad Laboratories by 25.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 375 shares of the medical research company’s stock worth $135,000 after purchasing an additional 75 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Bio-Rad Laboratories by 139.8% during the 3rd quarter. First Eagle Investment Management LLC now owns 458 shares of the medical research company’s stock worth $164,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. grew its holdings in Bio-Rad Laboratories by 42.0% during the 4th quarter. Blue Trust Inc. now owns 480 shares of the medical research company’s stock valued at $172,000 after purchasing an additional 142 shares during the last quarter. Finally, FDx Advisors Inc. purchased a new stake in Bio-Rad Laboratories in the 3rd quarter worth about $214,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Rad Laboratories Stock Up 0.1 %

Shares of NYSE:BIO opened at $275.94 on Friday. The company has a quick ratio of 4.34, a current ratio of 5.83 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $324.94 and its 200 day moving average is $317.57. The stock has a market cap of $7.87 billion, a P/E ratio of -12.84 and a beta of 0.87. Bio-Rad Laboratories, Inc. has a 52-week low of $261.59 and a 52-week high of $473.50.

Bio-Rad Laboratories (NYSE:BIO) last posted its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.17. The business had revenue of $681.18 million for the quarter, compared to the consensus estimate of $685.00 million. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 23.86%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.31 EPS. Sell-side analysts predict that Bio-Rad Laboratories, Inc. will post 10.41 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on BIO. UBS Group boosted their target price on Bio-Rad Laboratories from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, February 16th. StockNews.com upgraded Bio-Rad Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada cut their price objective on Bio-Rad Laboratories from $484.00 to $480.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, Citigroup downgraded Bio-Rad Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $400.00 to $365.00 in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Bio-Rad Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $468.00.

Insider Activity

In related news, EVP Michael Crowley sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $336.00, for a total transaction of $1,008,000.00. Following the completion of the sale, the executive vice president now directly owns 6,942 shares in the company, valued at approximately $2,332,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.06% of the company’s stock.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.